Glenn Sterle (WA, Australian Labor Party) Share this | Hansard source

My question is addressed to Senator Minchin, the Minister representing the Prime Minister. I refer the minister to the Prime Minister’s 2004 promise that he would keep interest rates at record lows. Is the minister aware of comments by truckie Wayne Phillips from Penrith in Western Sydney in the Australian newspaper today? He said:

“This is not the first hike in interest rates, it’s the fourth since the election—so much for the Howard Government’s promises.”

Aren’t battlers from Penrith, like Mr Phillips, in the seat of Lindsay, right to blame the Prime Minister for the fact that they are now paying an extra $260 a month on their mortgages, since they were told that interest rates would stay at record lows? Minister, what do you have to say to battlers who borrowed on the basis of your promise?